Zcash Hits Market Cap of $607.70 Million (CRYPTO:ZEC)

Zcash (CURRENCY:ZEC) traded 5.4% higher against the US dollar during the 24-hour period ending at 19:00 PM E.T. on August 30th. One Zcash coin can currently be purchased for $125.32 or 0.01859064 BTC on major exchanges including Kuna, Kraken, Huobi and Waves Decentralized Exchange. Zcash has a total market cap of $607.70 million and $127.83 million worth of Zcash was traded on exchanges in the last day. Over the last seven days, Zcash has traded up 4.6% against the US dollar.

Here’s how related cryptocurrencies have performed over the last day:

• Bitcoin Gold (BTG) traded 5.1% higher against the dollar and now trades at $22.60 or 0.00335295 BTC.
• ZenCash (ZEN) traded up 1.3% against the dollar and now trades at $19.67 or 0.00305821 BTC.
• Horizen (ZEN) traded up 5.5% against the dollar and now trades at $16.32 or 0.00242107 BTC.
• Bitcoin Private (BTCP) traded 3% higher against the dollar and now trades at $3.07 or 0.00045488 BTC.
• Bitcoin Interest (BCI) traded up 8.7% against the dollar and now trades at $1.39 or 0.00020597 BTC.
• ZClassic (ZCL) traded up 3.8% against the dollar and now trades at $3.53 or 0.00052411 BTC.
• BitcoinZ (BTCZ) traded 1.2% higher against the dollar and now trades at $0.0006 or 0.00000009 BTC.
• Zero (ZER) traded 2% higher against the dollar and now trades at $0.19 or 0.00002799 BTC.
• Hush (HUSH) traded 19.4% higher against the dollar and now trades at $0.12 or 0.00001784 BTC.
• Bitgem (BTG) traded flat against the dollar and now trades at $2.79 or 0.00034116 BTC.

Zcash Coin Profile

Zcash (CRYPTO:ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 4,849,081 coins. Zcash’s official website is z.cash. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @zcashco and its Facebook page is accessible here.

According to CryptoCompare, “zk-SNARKsThe BasicZcash is the first widespread application of zk-SNARKs, a novel form of zero-knowledge cryptography. The strong privacy guarantee of Zcash is derived from the fact that shielded transactions in Zcash can be fully encrypted on the blockchain, yet still be verified as valid under the network’s consensus rules by using zk-SNARK proofs. The acronym zk-SNARK stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier. “Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is. Application to ZCASHIn order to have zero-knowledge privacy in Zcash, the function determining the validity of a transaction according to the network’s consensus rules must return the answer of whether the transaction is valid or not, without revealing any of the information it performed the calculations on. This is done by encoding some of the network's consensus rules in zk-SNARKs. At a high level, zk-SNARKs work by first turning what you want to prove into an equivalent form about knowing a solution to some algebraic equations. In the following section, we give a brief overview of how the rules for determining a valid transaction get transformed into equations that can then be evaluated on a candidate solution without revealing any sensitive information to the parties verifying the equations. “

Buying and Selling Zcash

Zcash can be bought or sold on the following cryptocurrency exchanges: LocalTrade, Waves Decentralized Exchange, Upbit, Crex24, BTC Trade UA, Altcoin Trader, CoinExchange, Cryptopia, OTCBTC, Allcoin, HitBTC, Poloniex, BiteBTC, WEX, Coinrail, BitBay, BigONE, LiteBit.eu, Bithumb, BCEX, Huobi, Liquid, CoinEx, Coinut, CEX.IO, Kuna, Bit-Z, Bitlish, Braziliex, Sistemkoin, Graviex, Gemini, Mercatox, Gate.io, Exmo, Binance, Ovis, Bitfinex, GOPAX, Kraken, Trade Satoshi, Coinroom, Instant Bitex, Tux Exchange, LBank, C2CX, Cryptohub, Cryptomate, BX Thailand, YoBit, OKEx, BTC-Alpha, Bittrex and Bitinka. It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the aforementioned exchanges.

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